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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

CGX Energy Inc. is a Canada-based oil and gas exploration company. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

Comment by Harel1976on Sep 01, 2023 10:14am
233 Views
Post# 35615782

RE:RE:RE:RE:Smoke and mirrors

RE:RE:RE:RE:Smoke and mirrorsIf wei-1 is as big discovery as stated here and only waiting conformation of lab results its very weird and all your anger at mng is in place.
If there is something we dont know and its the reason for lack of communication its even worth.
The main issue for me is the cost of the wells and the time it takes. 
At 120m$+/- and 5 month per well the break even for a 1 billion boe hub might not attract the majors.
Lisa-1 was 35$break even, with lisa-2 its around 30$, payara was 25-30$, this is what it means "advantaged barrels".
If a corentyne hub is nearing 40$ break even (its behind lisa-1 in every asspect) i dont think a major would be interested.
The most important thing in investing in a no income exploration small cap is how they can fund future investments.
Hope for you they have a result that will enable them to move forward. 
Jmho
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